A V Ranganathan (Sr Manager- Retired) 25 May 2018

When does a sale agreement become invalid,

We have entered into a registered sale agreement with a party for a plot in Ambattur in 2004 and 90% advance was paid by the purchaser and the balance amount was to be paid within one year. from the date of agreement.. But the purchaser has not honoured the committment till date,nor he has approached the seller for any reconciliation or registering the property as sale deed in his favour by paying the balance amount. The purchasers present address is not known and hence we are not in a position to communicate with the party .

Under these circumstances we want to cancel the sale agreement ( As we understand that the validity of such sale agreemnet is only 3 years ) and find another party for selling the plot.

Could the experts advise us how to go about cancelling the agreement and move forward legally with another party for selling the plot. Will be greatly obliged for advice.

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5 Replies

Saifullah.C (Advocate,Chennai) 25 May 2018

you have to give public notice.

Saifullah

Advocate

High Court

Chennai

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A V Ranganathan (Sr Manager- Retired) 26 May 2018

Thanks for your advice. I would like add the following. The sale agreement is registered with SRO, Ambattur on 1st July 2004.with a consideration of Rs 80000/- out of which Rs 70,000/- has been paid and balance to be paid within one year from the date of registration. . It is mentioned in the document that the balance amount shall be paid within one year from the date of registration and he has not paid the amount. The EC that was taken received shows on ly the transaction o 1st July 2004 and no other entry.. Original document for the total Survey is with us as there are many more plots are located in this Survey.

As advised by you if we give a public notice can we cancel the agreement . What is the procedure to be followed with the registrar for cancellation..

Could you please elaborate your advice so that we can act.

Saifullah.C (Advocate,Chennai) 26 May 2018

You are entering into the arena of professional advice .you have to engage a lawyer.

Kumar Doab (FIN) 27 May 2018

‘The time is essence of the contract’

You must be having full irrefutable record of communication/notices sent to buyer to complete the Terms of contract to pay pending amount and register the sale deed.

Although apparently the limitation period is over as per you and as posted by you…

Still approach your own very able senior LOCAL counsel of unshakable repute and integrity specializing in civil matters and having successful track record ….. and worth his/her salt …and show the said agreement and communications on record and discuss in person and even with seasoned PIP and proceed in best of your interest.. ASAP.

For such counsels; Check at LOCAL Civil Courts, HC,SC……..